366: Get Okay with Making Money with Chioma Njoku
03/11/24 • 54 min
The Connected Yoga Teacher Podcast
366: Get Okay with Making Money with Chioma Njoku
Description:Is making money yoga-like? How is making money aligned with the principles of yoga? How do you balance making money as a yoga teacher with keeping your offerings financially accessible to people? Chioma Njoku shares her insights on these questions and more.
Chioma is the owner and Chief Mindful Operator at the Mindful Bookkeeper, and host of the Cheers to Your Prosperity podcast. By integrating the lessons she has learned from her own financial struggles and her professional experience as an Accountant of 18 years and Financial Coach, Chioma helps entrepreneurs and small business owners keep more of their hard-earned money in the bank without sacrificing the things that make life enjoyable.
In this episode, Chioma dives into the nitty gritty details of the money and finances aspect of running a yoga business. She talks about how bookkeeping software can help us with our finances, how to track payment fees, how to check your financial reports with intention, and why creating money practices is like practicing yoga. Tune in for Chioma’s tips on how to be consistent with money and shift your money mindset.
Key Takeaways:[2:23] This episode is powered by OfferingTree and Pelvic Health Professionals.
[3:58] Kathleen Pratt shares a little about the upcoming yoga series: Nourish Your Nervous System.
[5:12] Shannon introduces her guest for this episode - Chioma Njoku.
[9:49] What does Chioma do and who does she do it for?
[10:42] What does it look like when Chioma works with someone?
[12:47] Chioma addresses the idea that making money is yoga. It's okay to make money.
[15:24] How can yoga teachers balance the need to get paid with keeping their yoga classes accessible to people with limited funds?
[17:54] Chioma shares a little about the saviorism she encountered in 2020, when people invited her to attend their yoga classes for free because she is Black.
[21:09] Chioma talks about bookkeeping and what that means for yoga businesses.
[22:11] How often should we be looking at our money?
[24:34] What's a good starting point for yoga teachers who are not tracking their income or their expenses?
[29:06] Shannon pops in to share a great article that Sinead from the Connected Yoga Teacher Team wrote for OfferingTree.
[31:02] Shannon and Chioma chat about different software that is available for bookkeeping and tracking income and expenses.
[33:25] How does Chioma recommend yoga teachers look at their reports?
[35:18] What are some things yoga teachers can do to cut their expenses or increase their income?
[39:34] What are some other roadblocks yoga teachers often run into around mindset?
[42:57] How can yoga teachers work on their money mindset and get comfortable with money?
[46:33] Chioma shares some final thoughts for yoga teachers around money and running their own yoga business.
[47:56] Check out Chioma's podcast to learn more, and visit her website to connect.
[49:19] Shannon shares her biggest takeaways from this conversation with Chioma.
Links:- Chioma Njoku
- Cheers to Your Prosperity Podcast
- Previous Podcast Episodes on Money
- 330: Connect with Your Money with Shannon Crow
- 295: Make Money Teaching Yoga with Betty Welsh
- 280: Get Paid as a Yoga Teacher with Shannon Simmons
- 141: Let’s Talk Money with Katie Brauer
- 042: Money Mindset with Geraldine Carter
- 154: Bookkeeping for Yoga Teachers with Kelly Christian
- 329: Why Separate Bank Accounts? with Shannon Crow
- The Connected Yoga Teacher Podcast Episode 305: Kicked Out of Yoga [Part 2] with Chioma Njoku
- Quickbooks
- Xero
- Freshbooks
The Connected Yoga Teacher Podcast
366: Get Okay with Making Money with Chioma Njoku
Description:Is making money yoga-like? How is making money aligned with the principles of yoga? How do you balance making money as a yoga teacher with keeping your offerings financially accessible to people? Chioma Njoku shares her insights on these questions and more.
Chioma is the owner and Chief Mindful Operator at the Mindful Bookkeeper, and host of the Cheers to Your Prosperity podcast. By integrating the lessons she has learned from her own financial struggles and her professional experience as an Accountant of 18 years and Financial Coach, Chioma helps entrepreneurs and small business owners keep more of their hard-earned money in the bank without sacrificing the things that make life enjoyable.
In this episode, Chioma dives into the nitty gritty details of the money and finances aspect of running a yoga business. She talks about how bookkeeping software can help us with our finances, how to track payment fees, how to check your financial reports with intention, and why creating money practices is like practicing yoga. Tune in for Chioma’s tips on how to be consistent with money and shift your money mindset.
Key Takeaways:[2:23] This episode is powered by OfferingTree and Pelvic Health Professionals.
[3:58] Kathleen Pratt shares a little about the upcoming yoga series: Nourish Your Nervous System.
[5:12] Shannon introduces her guest for this episode - Chioma Njoku.
[9:49] What does Chioma do and who does she do it for?
[10:42] What does it look like when Chioma works with someone?
[12:47] Chioma addresses the idea that making money is yoga. It's okay to make money.
[15:24] How can yoga teachers balance the need to get paid with keeping their yoga classes accessible to people with limited funds?
[17:54] Chioma shares a little about the saviorism she encountered in 2020, when people invited her to attend their yoga classes for free because she is Black.
[21:09] Chioma talks about bookkeeping and what that means for yoga businesses.
[22:11] How often should we be looking at our money?
[24:34] What's a good starting point for yoga teachers who are not tracking their income or their expenses?
[29:06] Shannon pops in to share a great article that Sinead from the Connected Yoga Teacher Team wrote for OfferingTree.
[31:02] Shannon and Chioma chat about different software that is available for bookkeeping and tracking income and expenses.
[33:25] How does Chioma recommend yoga teachers look at their reports?
[35:18] What are some things yoga teachers can do to cut their expenses or increase their income?
[39:34] What are some other roadblocks yoga teachers often run into around mindset?
[42:57] How can yoga teachers work on their money mindset and get comfortable with money?
[46:33] Chioma shares some final thoughts for yoga teachers around money and running their own yoga business.
[47:56] Check out Chioma's podcast to learn more, and visit her website to connect.
[49:19] Shannon shares her biggest takeaways from this conversation with Chioma.
Links:- Chioma Njoku
- Cheers to Your Prosperity Podcast
- Previous Podcast Episodes on Money
- 330: Connect with Your Money with Shannon Crow
- 295: Make Money Teaching Yoga with Betty Welsh
- 280: Get Paid as a Yoga Teacher with Shannon Simmons
- 141: Let’s Talk Money with Katie Brauer
- 042: Money Mindset with Geraldine Carter
- 154: Bookkeeping for Yoga Teachers with Kelly Christian
- 329: Why Separate Bank Accounts? with Shannon Crow
- The Connected Yoga Teacher Podcast Episode 305: Kicked Out of Yoga [Part 2] with Chioma Njoku
- Quickbooks
- Xero
- Freshbooks
Previous Episode
365: How to Teach Accessible Yoga with Jivana Heyman
The Connected Yoga Teacher Podcast
365: How to Teach Accessible Yoga with Jivana Heyman
Description:How can we make yoga more accessible? From financial accessibility to the language we use in teaching, from offering modifications to supporting students who don’t follow our lesson plans, making yoga accessible encompasses many different things. Jivana Heyman shares his insights.
Making yoga accessible is at the core of the work Jivana does. He is the founder and director of Accessible Yoga, an international non-profit organization dedicated to increasing access to the yoga teachings for people of all abilities and backgrounds. He is also an author, and his latest book, The Teacher's Guide to Accessible Yoga, was recently released (listen in to find out how you can enter to win a copy!).
In this episode, Jivana shares how we communicate yoga has evolved over the years, although yoga philosophy remains unchanged, and how accessibility is a part of that. He also talks about figuring things out as new teachers, overcoming imposter syndrome and why maybe a little bit of imposter syndrome is not a bad thing, and many other aspects of making yoga accessible, including how to maintain a yoga practice even when we don’t have time!
Key Takeaways:[3:52] This episode is powered by OfferingTree and Pelvic Health Professionals.
[4:52] Kathleen Pratt shares a little about the upcoming yoga series: Nourish Your Nervous System.
[5:58] Shannon introduces her guest for this episode - Jivana Heyman.
[10:05] What is the work that Jivana does and who does he do it for?
[11:15] How can yoga teachers find that balance between being paid for their work enough to make a living and making sure people can access their classes financially?
[13:56] Pay-what-you-can models and tiered pricing models are some options to increase financial accessibility.
[15:36] What are some other main things Jivana covers in his new book?
[18:43] Shannon and Jivana discuss the idea that there is one best/correct way of doing a pose in yoga. This is not true!
[20:13] The general public has a very different idea of what yoga is than how it can actually be practiced.
[24:30] What are some new things Jivana has learned recently about making yoga more accessible?
[27:31] How does Jivana address situations in his classes where a student gives another student a hands-on assist?
[30:20] Jivana is giving away two of his books! Leave a comment in the show notes to stand a chance to win a copy!
[30:40] Are you signed up for the OfferingTree newsletter? They offer a free workshop or webinar every month for teachers!
[31:53] It can sometimes feel that as we learn more about making yoga accessible, there is always yet more to learn.
[34:36] Yoga has remained the same for millennia but how we interpret, communicate, and share it with people has changed and evolved over time.
[38:40] How yoga is taught has evolved over time but the yoga philosophy has not.
[42:13] It can be tempting to want our yoga practice to be perfect, like we experience at a yoga retreat, but how can we apply yoga to our real day-to-day?
[46:38] What are some tools we can use to bring yoga into our lives?
[50:28] Shannon and Jivana discuss other ways we can bring yoga into our busy lives.
[53:50] We can hold opposing things as true at the same time.
[56:05] Jivana shares the ABCs of yoga: Agency, Boundaries, Collaboration.
[62:27] How does Jivana handle situations where students don't do what everyone else is doing?
[68:08] Many yoga teachers deal with imposter syndrome. Jivana addresses this.
[74:08] Join the giveaway for Jivana's books by leaving a comment and find out more about his work and the books at his website and on Instagram.
[75:43] Shannon shares her biggest takeaways from this episode.
[79:08] Shannon shares some of the upcoming events in Pelvic Health Professionals, including Nourish Your Nervous System.
Links:Next Episode
367: Money Matters & Budgeting with Jenifer Parker
The Connected Yoga Teacher Podcast
367: Money Matters & Budgeting with Jenifer Parker
Description:How do you feel about budgeting and money as a yoga teacher? What is your system for tracking income and expenses – is it working? How can you decrease your expenses and/or increase your income? These are some questions Jennifer Parker answers in this insightful money conversation.
Jenifer Parker has been a yoga teacher for more than 21 years and is a qualified instructor in 4 lineages: Kripalu, Sivananda, Krishnamacharya, and Thai Yoga. She meets students where they are, teaching a traditional, integrated approach. In general she teaches within the Krishnamacharya lineage, but offers a unique insight into the similarities and differences in practice across lineages. Currently, she offers private lessons, corporate and private group classes, and a few public community classes in Te-Whanganui-a-Tara, Aotearoa (Wellington, New Zealand).
In this episode, Shannon and Jennifer dive deeper into money matters and budgeting for yoga teachers. Jennifer explains how to get consistent with our budgeting, how to adapt it to our needs and our yoga business, and why it’s so important for yoga teachers. She also shares some ideas on how to make more money as a yoga teacher and tackles some big mindset blocks yoga teachers may face when it comes to money issues.
Key Takeaways:[0:28] Shannon takes a moment to recognize the harm that is taking place in Palestine right now.
[4:13] Shannon briefly talks about her topic and guest for the episode.
[5:15] Shannon introduces herself and gives a shout out to the sponsors, OfferingTree and Pelvic Health Professionals.
[8:47] Kathleen Pratt shares a little about the ongoing online yoga series, Nourish Your Nervous System.
[10:13] Shannon introduces her guest for this episode - Jennifer Parker.
[15:49] What does Jennifer do and who does she do it for?
[18:36] Jennifer shares a little about where she is located.
[19:44] Why is Jennifer so passionate about talking about money in relation to teaching yoga and being a yoga teacher?
[25:47] What are Jennifer's thoughts on budgets?
[32:04] What kind of tools does Jennifer use when it comes to creating a budget?
[34:08] What actions does Jennifer take when she's looking at her budget every week?
[37:26] Jennifer shares some tips that can help with the mindset part of creating and following a budget.
[40:34] What are some ideas for yoga teachers to make more money?
[46:49] Having a clear goal in mind will help you move in the right direction.
[48:23] Shannon pops in to give a shout out of thanks to sponsor, OfferingTree.
[51:21] What are some other ideas for making money within yoga?
[58:17] Jennifer recommends talking to your landlord about subdividing the physical space you are using for yoga classes if the rent has gone up.
[62:23] We have to get comfortable talking about money!
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[63:18] Jennifer's advice is to tap into your networks.
[74:37] Shannon shares some reflection questions you can journal on.
[75:37 - 75:50] Questions:
[78:42] Shannon shares an audio message from a podcast listener.
[81:11] Support the podcast by making a donation or signing up for one of the offerings!
Links:- Jennifer Parker
- Previous Podcast Episodes on Money
- 366: Get Okay with Making Money with Chioma Njoku
- 330: Connect with Your Money with Shannon Crow
- 295: Make Money Teaching Yoga with Betty Welsh
- 280: Get Paid as a Yoga Teacher with Shannon Simmons
- 141: Let’s Talk Money with Katie Brauer
- 042: Money Mindset with Geraldine Carter
- 154: Bookkeeping for Yoga Teachers with Kelly Christian
- 329: Why Separate Bank Accounts? with Shannon Crow
- Mint: Budget Tracker & Planner
- Nourish Your Nervous System, 6-Week O...
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